The acquisition of the ailing Japanese electronics giant Sharp through the Apple contract manufacturer Foxconn is sealed. Both companies signed a contract. It is the first acquisition of a major Japanese electronics company by a foreign company. Foxconn pays as previously agreed 388.8 billion yen, equivalent to about 3 billion euros, for the deal. To this end, Foxconn acquires new shares, bringing the Taiwanese are 66 percent the largest shareholder in Sharp.
Originally Foxconn had commanded about 100 billion yen more for Sharp, the purchase price will, however, due to the deteriorating balance sheet and high liability accruals Japanese reduced. Experts in Tokyo had long supported the by the Japanese government fund Innovation Network Corporation of Japan (INCJ) considered favorites in the takeover battle. The battle between Foxconn and the funds had been viewed as a test of Japan’s willingness to open its economy.
High losses for the former Pioneer
Sharp was a pioneer in flat LCD screens but fell in the last few years by Korean and Chinese competition in screens for TVs and smartphones under massive pressure. After heavy losses temporarily stand even the survival of the company in question. Sharps creditor banks, the Bank of Tokyo-Mitsubishi UFJ and Mizuho Bank, likely according to media provide a new credit line of 300 billion yen and lower interest rates on current loans.
Foxconn promises after a takeover by Sharp industry insiders to diversify its business. Sharps screen technologies could help the Taiwanese to break into the lucrative production of high-end components. So Sharp is planning a production line for OLED, the next generation of LEDs. So far produced Foxconn most of the iPhones from Apple and supplied components such as metal housing. In future, the Group intends to Japanese media reports also provide screens for the iPhone
In the video. This shows a picture of how the power of Apple has developed in only 10 years
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